Daewoo E&C wins contract to build power plant in Morocco

Daewoo Engineering & Construction has won a 1.971 trillion won ($1.76 billion) order to build a power plant and related facilities near the city of Safi in Morocco.

It will be the most expensive project that the company has won in its history.

The nation’s third-largest builder said in a regulatory filing that it will build a coal-fired power plant that has a capacity of 1,320 megawatts after clinching the Safi Independent Power Project.

It is expected to take 46 months to complete.

Daewoo E&C first entered the Morocco market in 1998, first among local builders. It has collected $3.46 billion worth of orders, which accounts for nearly 90 percent of Korean builders’ secured projects in Morocco. The company has worked on three large plant construction projects in Morocco.